By Marisa Wong
Madison, Wis., Sept. 27 - B Communications Ltd. sold NIS 400 million series B debentures due March 31, 2019 at par, according to a company news release.
The public tender for the debentures was held on Sept. 21.
The debentures will have a fixed interest rate of 6½%.
The principal will be repayable in four equal annual installments on March 31 of each year beginning in 2016.
The debentures are NIS-denominated and are not linked to the Israeli Consumer Price Index.
Net proceeds will total approximately NIS 395.8 million.
The series B debentures are being offered in Israel only and will not be registered under the U.S. Securities Act.
The company will list the debentures for trading on the Tel Aviv Stock Exchange.
B Communications said Midroog Ltd. has assigned an A2 local-scale rating to unsecured debentures issued by the company.
Ramat Gan, Israel-based B Communications holds a controlling interest in Bezeq, Israel's incumbent telecommunications provider.
| Issuer: | B Communications Ltd.
|
| Issue: | Series B debentures
|
| Amount: | NIS 400 million
|
| Maturity: | March 31, 2019
|
| Coupon: | 6½%
|
| Price: | Par
|
| Yield: | 6½%
|
| Pricing date: | Sept. 21
|
| Settlement date: | Sept. 26
|
| Rating: | Midroog: A2
|
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